Many people think of estate planning as ensuring that assets like the house and vehicles can seamlessly pass on to others once they pass away. If you own pets, though, then you should include them in your estate plan. This ensures that they are taken care of if something happens to you.
There are a few things that you should consider when making plans for your pets. This will allow you to provide for them when you’re not around.
Who will take care of your pet if you’re gone?
One of the most important things to do is find someone who will take care of your pets if you can’t. It’s best to discuss the situation with your designee to ensure that they’re willing and able to take on the responsibility. You’ll want to make sure that they understand any special needs that your pets have. For example, a dog used to being in the house probably won’t do well as an outside dog unless there’s a proper transition.
Can you set aside money to cover your pet’s future expenses?
Pets can be very costly. If possible, create a pet trust so that you can leave behind assets to help with their care. By doing this, you take the financial burden off the person who accepts the responsibility of caring for your pets.
You should make sure that the person who cares for the animals has all the information they need. This includes things like what veterinarian you use and what kind of food you feed them. You should clearly outline any medical conditions or other special considerations that your pet has for your appointed guardian as well.
Your attorney can help you ensure that you have everything set up so your pets can be adequately cared for if you pass away. It’s best to handle this duty now so that you have it in place.